Rogers Communications Q2 Profit Up, But Misses Estimates

(RTTNews) - Canadian communications and media company Rogers Communications, Inc. (RCI.TO, RCI), Wednesday reported an increase in net income for the second quarter, reflecting higher revenues. Earnings per share, however fell shy of the Street estimates.

The company reported net income of C$532 million or C$0.93 per share, compared with C$413 million or C$0.77 per share during the same quarter last year.

On an adjusted basis, the company reported net income of C$497 million or C$0.96 per share, compared with C$478 million or C$0.91 per share during the corresponding quarter last year.

On average, seven analysts polled by Thomson Reuters expected earnings per share of C$0.98 for the quarter. Analysts' estimates typically exclude one-time items.

The company generated operating revenues of C$3.21 billion compared with prior year's C$3.10 billion. The Street estimated the company to report revenues of C$3.24 billion.